The underlying problem with the 'product-market fit' hyperbole is one of degree. 1) Ok, so they like your product, but how much? 2) Is it that much better than

The underlying problem with the 'product-market fit' hyperbole is one of degree. 1) Ok, so they like your product, but how much? 2) Is it that much better than substitutes? 3) Really how big is the market? 4) Some will live it, some won't, what does that ratio look like? 5) How much customisation did each of those customers need? This concept of 'product-market fit' is almost ridiculous frankly. In reality, investors want to see a material 'lift off' i.e. in their investments they want to see startups that have a product that is just 'taking off' and 'flying out the door' ... but this is an excessively optimistic view of 'product market fit'. By some SV definitions, most companies never had 'product-market fit'.